Bitcoin climbs past $64,000 as the only major crypto gaining
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Bitcoin climbed past $64,000 on Tuesday, notching a gain of over 1% and standing out as the only major crypto with solid growth this week.
Meanwhile, Ether eased half a percent but still holds an almost 1% weekly gain.
Most other big names, like XRP, Dogecoin, and Binance Coin, saw minor drops or stayed flat.
Bitcoin miners cut computing power 21%
With mining profits falling and competition from AI heating up, public Bitcoin miners have cut their computing power by 21% in the last nine months. Many are now moving resources toward AI projects instead.
Analyst Alex Kuptsikevich, chief market analyst at FxPro, says Bitcoin needs to break out of its current price range ($62,000 to $65,000) if it wants to shake off the bearish trend.